ArabFinance: A banking consortium, led by Societe Arabe Internationale de Banque (SAIB), has signed a medium-term syndicated loan agreement worth EGP 1.2 billion in favour of Al-Kharafi National for Infrastructure Projects Developments Construction and Services, Hapi Journal reported.

The consortium comprises five banks, including Export Development Bank of Egypt (EDBE), Arab Investment Bank, Industrial Development Bank (IDB), Al Baraka Bank Egypt (SAUD)

SAIB acts as the main arranger and finance and guarantee agent of the loan.

Proceeds of the loan will be used in financing the contracting works assigned to Al-Kharafi National for Infrastructure Projects Developments to develop the infrastructure projects under the presidential initiative to provide a decent life.

Copyright 2021 Arab Finance Brokerage Company All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an as is and as available basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.